History

SolstenXP is a project life cycle petroleum engineering and natural resource services company headquartered in Anchorage, Alaska. The Company was founded in October 1993 as Fairweather E&P Services, Inc. which was one of several Fairweather companies at the time. After a partner buyout in 2009, the Company name was changed to SolstenXP.

The Company’s primary service suite was initially project management and supervision for drilling operations in Alaska and its first project was the overall management and supervision for the Amerada Hess Northstar No. 3 exploration well in the Beaufort Sea.

From this start, the Company grew to include additional services such as contract drilling engineering and supervision, production operations, remote well abandonment, offshore operations and other upstream special project support to the oil and gas industry. In 1997, SolstenXP executed one of the Company’s flagship projects, the turnkey drilling of the ARCO Warthog No. 1 exploration well in the Beaufort Sea. For this project, SolstenXP was awarded a turnkey contract in March of 1997 and performed all permitting, planning, engineering and contracting services for an offshore Beaufort Sea well with a subsequent spud date of November 15, 1997. Never before or since has an offshore well been successfully drilled in the Beaufort Sea with such little lead time and low cost.

In 2003, SolstenXP entered into its first native partnership with the Kaktovik Inupiat Corporation (KIC), resulting in the formation of Marsh Creek, LLC. Marsh Creek provides remote environmental cleanup services, energy systems for remote applications, telecommunication system construction and general contracting services.

A second partnership with KIC was formed January 1, 2010 under the name of Jago Contracting and Management, LLC (Jago). Jago was created to expand KIC’s participation in construction management and operations with a particular focus on continuing development activities at Point Thomson which is located within 60 miles of the village of Kaktovik. Upon startup, Jago was immediately a functioning construction management company. As part of the process of forming the new partnership, 42 existing project specific personnel and associated business systems were seamlessly transferred to Jago to provide construction and logistical support activities to Point Thomson operations that were previously conducted by SolstenXP.